Comments on: Spend-A-Thon http://alamedalearning.com/reality/2010/02/01/spend-a-thon/ Separating fact from fiction in finance and economics Thu, 28 Apr 2011 10:38:31 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: reality http://alamedalearning.com/reality/2010/02/01/spend-a-thon/comment-page-1/#comment-2001 reality Mon, 01 Feb 2010 22:39:15 +0000 http://alamedalearning.com/reality/?p=3409#comment-2001 Right direction, but not nearly radical enough at this late stage Right direction, but not nearly radical enough at this late stage

]]> By: Harry Toll http://alamedalearning.com/reality/2010/02/01/spend-a-thon/comment-page-1/#comment-2000 Harry Toll Mon, 01 Feb 2010 22:21:29 +0000 http://alamedalearning.com/reality/?p=3409#comment-2000 There will be no growth, either in economic activity or tax revenues, if tax rates are increased. This budget is entirely self-defeating, a consistent characteristic of virtually all of this administration's policies. They are either economically ignorant, or Leninist idealogues, or both. The free world is in danger of an economic meltdown. Time to get practical: Cut government salaries across the board 3% per year for the next three years. Cut government employment (excepting uniformed military but including non-uniformed DoD) by 5% immediately, 2% for each of next 2 years. Immediately enact a flat tax of 20% with only earned income credit for those below a certain income level. Enact tort reform, and expand health insurance choices across state boundaries. Mandate that pharma companies charge the same price for medicines in all markets globally. Cut government (at all levels) employee retirement benefits to match private industry. Re-instate Glass-Steagall firewalls in the banking system. Extend the so-called Bush tax cuts. This is the agenda and budget approach that will fix the problem and is what the American people want. Simple, growth oriented, honest. We need to do it now. There will be no growth, either in economic activity or tax revenues, if tax rates are increased. This budget is entirely self-defeating, a consistent characteristic of virtually all of this administration’s policies. They are either economically ignorant, or Leninist idealogues, or both. The free world is in danger of an economic meltdown.

Time to get practical: Cut government salaries across the board 3% per year for the next three years. Cut government employment (excepting uniformed military but including non-uniformed DoD) by 5% immediately, 2% for each of next 2 years. Immediately enact a flat tax of 20% with only earned income credit for those below a certain income level. Enact tort reform, and expand health insurance choices across state boundaries. Mandate that pharma companies charge the same price for medicines in all markets globally. Cut government (at all levels) employee retirement benefits to match private industry. Re-instate Glass-Steagall firewalls in the banking system. Extend the so-called Bush tax cuts. This is the agenda and budget approach that will fix the problem and is what the American people want. Simple, growth oriented, honest. We need to do it now.

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